down payment

American  

Or down-payment

noun

1. an initial amount paid at the time of purchase, in installment buying, time sales, etc.

2. any initial or partial payment, gift, favor, or recompense, as to reduce one's indebtedness or express one's obligation or gratitude.

   This gift is just a down payment for all the favors I owe you.

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down payment British  

noun

1. the deposit paid on an item purchased on hire-purchase, mortgage, etc

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down payment Cultural  

1. A payment in part made at the time of purchase of a good, with the promise to make full payment later.

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Etymology

Origin of down payment

First recorded in 1925–30

Example Sentences

Rising inventory and moderating prices are giving buyers more negotiating room and reducing the pressure to lead with an outsized down payment.

From The Wall Street Journal • May 20, 2026

“Most buyers don’t have the capital to pay for their own agent on top of their down payment, closing costs, inspection and appraisal fees,” the real-estate broker added.

From MarketWatch • May 19, 2026

The typical monthly mortgage payment on an existing single-family home, assuming a 20% down payment, was $1,979 in the first quarter, according to data released Tuesday by the National Association of Realtors.

From Barron's • May 5, 2026

Other proposals include $10 billion in bonds to build mixed-income housing on underutilized public lands, limits on investor purchases of single-family homes and an expansion of down payment and other types of mortgage assistance.

From Los Angeles Times • May 1, 2026

I borrowed money from Mrs. Bibbs, my employer, made a down payment on a pearl-gray suit.

From "Black Boy" by Richard Wright

Related Words

• deposit